Chipotle Mexican Grill, Inc. (NYSE:CMG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) have earned an average rating of “Moderate Buy” from the thirty-three ratings firms that are covering the company, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $43.8393.

A number of equities research analysts have recently issued reports on the stock. Evercore reaffirmed an “outperform” rating and set a $47.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 30th. Weiss Ratings raised shares of Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 7th. Guggenheim restated a “neutral” rating and set a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Argus lifted their price target on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st.

Chipotle Mexican Grill Trading Up 0.3%

Chipotle Mexican Grill stock opened at $36.23 on Monday. The firm has a market cap of $45.85 billion, a PE ratio of 33.24, a P/E/G ratio of 2.21 and a beta of 0.94. Chipotle Mexican Grill has a 12 month low of $28.03 and a 12 month high of $42.81. The stock’s 50 day simple moving average is $35.11 and its two-hundred day simple moving average is $33.91.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business earned $0.33 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that Chipotle Mexican Grill will post 1.15 EPS for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the transaction, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.45% of the company’s stock.

Institutional Trading of Chipotle Mexican Grill

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Chipotle Mexican Grill during the 2nd quarter worth approximately $4,417,475,000. California State Teachers Retirement System boosted its position in shares of Chipotle Mexican Grill by 3,133.9% in the 2nd quarter. California State Teachers Retirement System now owns 66,453,578 shares of the restaurant operator’s stock worth $2,259,422,000 after buying an additional 64,398,656 shares in the last quarter. Norges Bank acquired a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $711,837,000. Capital World Investors grew its holdings in Chipotle Mexican Grill by 15.8% during the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock valued at $3,762,457,000 after buying an additional 13,843,222 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Chipotle Mexican Grill in the second quarter valued at $383,483,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that operates restaurants under the Chipotle Mexican Grill brand. Its menu centers on customizable Mexican-inspired food, including burritos, bowls, tacos and salads, along with sides, beverages and children’s meals.

The company emphasizes cooking with responsibly sourced ingredients and preparing food in its restaurants. Customers can order meals in person, through digital ordering channels, for pickup or delivery. Chipotle serves customers primarily in the United States, with additional restaurants in Canada, the United Kingdom, France and Germany.

Chipotle was founded in 1993 by Steve Ells in Denver, Colorado.